Strategic Risk Solutions, the world’s largest independent insurance company manager, has announced that Charles “Chuck” Scherer has joined SRS Bermuda as a senior vice-president – insurance linked securities.

Reporting to Jonathan Reiss, chairman of SRS Bermuda, Mr Scherer would be a key member of the Bermuda leadership team and be responsible for further expanding SRS’s growing influence in the ILS sector, the company said.

“Chuck has a proven track record of developing ILS products across both property & casualty and life sectors, especially with respect to structuring and licensing catastrophe bonds, transformers, sidecars, and life insurance securitisations,” said Mr Reiss.

“Chuck also has considerable experience managing captives and commercial insurance and reinsurance clients in both Bermuda and the United States. His breadth of experience and versatility will be a huge asset to our growing team at SRS.”

The company said Mr Scherer had 20 years of experience in the financial services and insurance industries.

Before joining SRS, he served as controller for a Florida-based surety insurance company.

Before that, he was SVP, insurance-linked securities at Aon Bermuda, where he spent seven years dedicated to the ILS sector.

Mr Scherer said: “I have long admired SRS’s independence and dedication to client service and I noticed their commitment to the ILS sector, which fits perfectly with my experience. I am excited to have this opportunity in a dynamic and growing business.”

In addition to Bermuda, SRS has operations in the United States, Canada, Europe, Barbados, Cayman Islands, and South Africa.